RBI keeps FY24 GDP projection unchanged; revises retail inflation

The Reserve Bank of India has kept it real GDP growth projection unchanged at 6.5 per cent even as it revised upwards the retail inflation from 5.1 per cent to 5.4 per cent.

Real GDP growth for 2023-24 is projected at 6.5 per cent with Q1:2023-24 at 8.0 per cent; Q2 at 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent, with risks evenly balanced.

The real GDP growth for Q1FY25 has been projected at 6.6 per cent.

• Also Read: GDP data. India’s GDP grows at 4.4% in Q3; economy to expand at 7% in FY23: Govt data

INFLATION

CPI inflation has been revised upwards to 5.4 per cent (from 5.1 per cent earlier) for 2023-24, Q2 at 6.2 per cent (5.2 per cent earlier), Q3 at 5.7 per cent (5.4 per cent) and Q4 at 5.2 per cent (unchanged). The risks are evenly balanced.

CPI inflation for Q1FY25 has been projected at 5.2 per cent.